Printer Friendly

VIRATEK REPORTS FIRST QUARTER NET INCOME UP 287 PERCENT

 VIRATEK REPORTS FIRST QUARTER NET INCOME UP 287 PERCENT
 COSTA MESA, Calif., April 30 /PRNewswire/ -- Viratek Inc.


(NASDAQ: VIRA) today reported net income of $1.4 million, or 10 cents a share, on revenues of $2 million for the first quarter of 1992. That compared with net income of $359,000, or 3 cents a share, on revenues of $1.2 million in last year's first quarter.
 Viratek receives royalties on worldwide sales of the antiviral Virazole, for which it holds the patent.
 In the United States, Virazole is marketed as an aerosol to treat hospitalized infants for severe lower respiratory tract infection caused by respiratory syncytial virus (RSV). First quarter Virazole sales in the United States were up 178 percent, compared to 1991.
 Virazole sales worldwide increased 117 percent in the first quarter, compared to the first quarter of 1991. In addition, sales of Virazole for RSV were also higher in Canada and Spain, as well as in Mexico, where it is authorized for several indications.
 Research and development expenditures in the quarter totaled $330,000.
 Viratek Inc. specializes in the development and licensing of new pharmaceutical compounds from nucleic acid research.
 VIRATEK INC.
 Summary Financial Information
 For the Three Months Ended March 31, 1992 and 1991
 (000s omitted, except per share amounts)
 Three months ended
 March 31,
 1992 1991
 Total revenues $1,993 $1,244
 Other expense, net 605 885
 Net income $1,388 $359
 Per share information:
 Net income $0.10 $0.03
 Shares used in per share
 computation 14,549 14,255
 -0- 4/30/92
 /CONTACT: Paul Knopick of Viratek, 714-545-0100, ext. 2465/
 (VIRA) CO: Viratek Inc. ST: California IN: MTC SU: ERN


EH-DM -- LA015 -- 4760 04/30/92 09:03 EDT
COPYRIGHT 1992 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Apr 30, 1992
Words:287
Previous Article:PETER BOGDANOVICH JOINS HARMONY PICTURES.
Next Article:SCANNING MANAGEMENT SYSTEMS TO EXHIBIT POS PLUS(TM) SOFTWARE SOLUTIONS FOR THE SUPERMARKET INDUSTRY


Related Articles
VIRATEK RECORDS A THREEFOLD INCREASE IN NET INCOME IN 1991
ICN PHARMACEUTICALS REPORTS RECORD FIRST QUARTER SALES AND EARNINGS; LONG-TERM LIABILITIES REDUCED BY $40 MILLION
VIRATEK REPORTS SECOND QUARTER SALES AND EARNINGS
VIRATEK REPORTS SECOND QUARTER SALES AND EARNINGS
VIRATEK REPORTS HIGHER THIRD QUARTER AND NINE-MONTH EARNINGS
VIRATEK INC. REPORTS EARNINGS
VIRATEK REPORTS FIRST QUARTER EARNINGS
VIRATEK FIRST QUARTER EARNINGS UP 64 PERCENT ON 95 PERCENT REVENUE GAIN
ICN PHARMACEUTICALS REPORTS CONSOLIDATED FIRST QUARTER 1994 RESULTS
VIRATEK REPORTS THIRD QUARTER RESULTS

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters